en.bitcoinsistemi.com
US-based Verb Technology Company has announced a major move into the $TON ecosystem. The company has acquired $713 million worth of Toncoin ($TON), bringing its total assets to $780 million.
Following this step, the company plans to change its name to “$TON Strategy Company.”
According to the official press release, the company's total assets of $780 million consist of 713 million $TON coins and 67 million cash reserves. The company's strategy is to become one of the network's largest institutional supporters by purchasing 5% of $TON's circulating supply.
This development follows a $558 million private placement completed on August 8. The company used the majority of these funds to acquire $TON. Chairman Manuel Stotz commented:
“Reaching $780 million in assets in just a few days demonstrates our strong belief in $TON. This means not only growing our balance sheet but also contributing to the security of the $TON blockchain.”
The company also stated that it will continue its strategic plans to increase its $TON holdings through staking rewards, cash flow investments, and capital markets activities.
Despite this huge buying news, no noticeable movement was seen in the $TON price chart and even a decline occurred.
*This is not investment advice.